Not too bad really within 50 points. It works like a charm for some not for others. It presupposes there will be no added accounts. Can you live up to your end? 
@Anonymous wrote:
Hello,
I am wondering if anyone has any insight as to how accurate the fico score simulator actually is?I get a different result between tu and eq when I put in the same criteria does anyone has experience with this ? Thanks for your input !
Oh, boy, I love sim questions.
Do EQ and TU give you the same best scenario, or is one "no lates for 24 months" and the other "pay down balance for 24 months", or something similar? And as PP asked, how different are your EQ and TU reports?
But even with fairly similar reports, you'll still get different scores. I have a 15-point gap between mine (it has been way bigger in the past), and that difference holds for about twelve months, and then EQ projects as high or higher than TU.
Each CRA commissions their own formula, and each one rewards and punishes credit behavior in a slightly different way. So even with absolutely identical reports, as each of my three children have, you'll wind up with different scores.
BTW, when you get the "pay down balance over 24 months", that doesn't mean drag out your repayments over 2 years. It means pay them down as fast as you can, and then hunker down and keep them down. It's referring to the combination of low util and an additional 24 months of clean reporting.
@Anonymous wrote:
Thanks for all the imput. to" Haulingup" I notice you say that you do not have to wait the 2 years to pay off accounts...that is one of my questions....I have tried putting in larger amounts for shorter period of time to pay down balances but I always get a better score by using the time factor (24 months) , The accounts I am talking about are actually closed with balances remaining , would you reccommend that I pay off a larger portion but leave a little to pay over the next twelve monts or so?
No, the projected point drop is a combination of lowered util plus time. So you won't see scores displayed as high for only six months or so, as that's not including the following 18 months of good history.
I got this recommendation once with a $7 total revolving balance. Pay $7 down over the next 24 months? Let's see, a tad over 29 cents per month.
Just get the util down ASAP and keep it down, and after two years or so, your scores should fall within that range. As long as nothing else changes, which it surely will.
